CAREPLS trade ideas
CAREPLS in the front seat from Glove SectorWEEKLY
This week Carepls shown a very good reversal bull candle that respects the EMA50 weekly very well. We can also see that the candle actually broke the major downtrend that has been sliding for 4 months
The Candle also is being fully supported by the volume candle, expecting carepls to at least run the bull for another week with couple of profit takings.
Follow the TOP DragonHead and see a bigger picture
Potential Earning : +-40% till the major resistance
Good luck Trading
*This is just education purposes, please do your own studies as this idea is not a buy sell call on any of the counter*
Carepls - from previous making loss to Net Cash!Carepls - from previous making loss to Net Cash!
(Disclaimer: for demonstrate own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
CAREPLS - No brainer, Buy the dipWEEKLY
Buy the dip, Careplus is wel supported in the bullish pennant
Is careplus still in trent ? ABSOLUTELY
Weekly shows that price always rebound within the pennant
Ignore daily price fluctuation
Trade within the pennant, Price is within the demand zone.
Specifically for careplus sector, The trend is still intact, RSI has yet to cross below 50 mark. Which means, the trend is still intact, simillar to MACD.
Buy when MACD histogram shows a good sign for the dip. Look out for this week
a total of 8 weeks downtrend, 8 weeks of FEAR
Demand zone: 2.50
Stronger demand zone: 1.90
Carepls (1HR) : Updated Forecast Please like and share if you agree with the analysis.
Hopefully it will be beneficial to anyone of you guys.
CAREPLS Big ResistanceStill showing purple trend (Bear Trend)
Price is below EMA25 and EMA50
Oneday Show by glove related stock, both 2days are high volume
Avoid to stock which is not in rally trend
CAREPLS UPDATE - UPTREND MOVEMENTS ON THE WAYI have published my idea on Carepls prediction movements on Nov 24th 2020, and predict the stock price will slowly crawl back to around 4.34 or higher.
Carepls ends up with the correction of triple three wave structures of w-x-y-z (refer to the chart), rather than double three w-x-y correction (based on my earlier published idea). This ends the wave B correction.
The reverse uptrend movement is on the way. This might take an impulse uptrend (1-2-3-4-5), or could form into more complex upward corrections (A-B-C or W-X-Y). However the target remains the same. Once the targets met, the further downtrend consolidation is expected.
Can consider long on this reverse uptrend movement.
Happy trading.
CAREPLS Heading for Down TrendGlove counters in Bursa Malaysia have seen the selling pressure since the development of vaccine news. CAREPLS is in much immense pressure since the P/E ratio is at the high side (P/E = 45) as of 18 Nov 2020 compares to the other big counterparts (Topglove, Supermax, Hartalega etc.)
We may see the price to go as low as RM1.90, that becomes the long term support (S1).
Buy if rebounds at S1.
CAREPLS - Consolidate But WIll Gradually Crawl Back To RM4.34General market sentiment is bearish towards glove stocks. While it is true there is no momentum on glove stocks recently, Carepls chart has not shown clear sign of bearishness of downward trend yet based on past 3.5 months period. There are no lower high and lower low trends on Carepls price chart yet. To be more specific, Carepls prices are moving in sideway and in consolidation mode.
Based on Elliott wave analysis, the price might consolidate in complex wave structures. The prediction is Carepls might reverse its recent downtrend movements to gradually crawl back to ballpark value of RM4.34 (or higher) as part of smaller degree wave C to complete its rebounding trend before turning downward movements again for further consolidation.
This is for sharing purpose, and is not a call to buy or sell purpose.
HAPPY TRADING!
CAREPLS - possible rebound at 2.65Price approaching green trend line and strong support at 2.60.
Stoch already at oversold.
MACD to confirm with cross up.
CAREPLUS:POTENTIAL BUY WITH 1:8 RISK REWARD RATIO?CAREPLUS IS POTENTIALLY BUY ON DEEP WITH GOOD RISK REWARD RATIO.
TAYOR!!
Bearish viewCarepls plummeted on Aug and found support at Fibonacci 2.681, made successive breakout on downtrend line 1, however still hesitating on downtrend line 2. Our view on future bullish move is still weak since the price has broke below the uptrend line in red, followed by two consecutive days close below EMA 50. We would change our view to bullish when the price could make significant close above DTL2.
Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Studying Careplus I made this just to anticipate the next move for Careplus using very basic trend analysis.
Careplus latest QR published on 23rd Oct 2020;
Revenue: RM122m (highest revenue so far)
Profit After Tax: RM42m (highest profit so far)
Market Cap: RM1.7b
EPS: RM0.15
Positive Catalyst: Uptrend Covid-19 cases worldwide, short of gloves supply worldwide, secured gloves booking for 2021 with current capacity, sustainable ASP at least until end of 2020, private placement RM3.60 for production expansion.
Negative sentiment to watch out: US Presidential Election, Malaysia Budget 2021, national political turmoil.
Careplussupport level at 3.20
Resistance 1 : 3.50
Resistance 2 : 3.85
medical gloves are on demand globally so investing in careplus till 2021 shouldn’t be an issue. *Profitable company *
If you bought at the higher price my suggestion is use this formula call (buy on deep)
Buy On deep at 3.25
It’s helps you to lower your total unit price (Lower price vs more units in hand )
Careplus projection to 4rm in 2weeks time
( TRADE WHATS THE WORLD NEEDS)
up up up carepls go go go carepls
Question you need to ask yourself :-
1) Is it UPTREND ? ema 20 > ema 50
2) Is it BULLISH ? price > ema 50
3) Is it STRONG BULL ? fift positive
If yes,
4) Where is your Support and Stop Loss ? 3.5 (6%)
5) Where is your Entry Point ? 3.78
6) What is the % risk (Stop Loss - Entry Point)/Entry Point = 6%
7) Can you take this N% risk ?
8) you got a setup if yes.
9) Tp
<TradeVSA> Careplus - Pullback Completed in Hourly ChartDaily Chart
1. Potential change of trend with Green Pentagon
2. NS signal above 20 / 40 MA. Support is Solid
Hourly Chart
3. Pullback with Spring
4. Green pentagon completed the pullback. Strong closing with good volume
Hit the "LIKE" button to support us :)
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Carepls - Ready to breakout ? Triggered 3rd Fast Turtle Buy
This time Fast Turtle Buy is with ATOM Buy.
MCDX+ Breaks above Banker's Moving Average
FiFT +ve and gaining momentum.
Accumulate and further buy above 3.50
Support around 2.55 - 2.75
CAREPLS - pattern in the makingLet's have a CUP of coffee while we are waiting.
Enjoy the ride, this is the time.
CAREPLS [14 October 2020] Buy On Resistant Zone Break OutMYX:CAREPLS
CAREPLS Buy On Resistant Zone Break Out
CAREPLS [7 October 2020] Buy On Dip in Support ZoneMYX:CAREPLS
Breakout Downtrend Line
52 Weeks High Line
Fibbonaci Retracement
Candlestick Support & Resistant Zone
Trendline Support & Resistant
CAREPLS - let's go breaking some more resistance lines-Today there are 432 new cases of covid19 in our country. This is the record breaking figure compared to previous high of 315 on 16th March 2020.
-Are we battling covid19 part 2 which is stronger in nature? Or is it just we as human who always take for granted and neglect the SOP and getting loose on everything.
-nearest resistance at 3.80 and if broken we will be at 4.10
-there is so much head room to reach 5.83 of 20W high
-just hold tight
Careplus - a Bullish tradingBullish set uo noted. neckline or resistance broken. either you want to wait for the R to be tested and becomes S, or you just want to jump in right a way.
CAREPLS - this counter not going to fail us!Why?
From many angle, it just look real good.
Management - the profit is good, company opening new plant, better treatment to staff, booking is ahead of production
Investors - look at the OBV, it keeps increasing. Price might fluctuate but OBV indicate how the investors still keeping their trust.
Global pandemic - don't look far, in Malaysia yesterday already 260 new cases. It's bad for our health (so be careful #kitajagakita), but it's just indicate the demand for glove will never end. Vaccine? Until now vaccine just used by Trump for his campaign only. In Brazil and India, do you know how many new cases daily? 90k daily.
